IDBI Bank announces repayment of SLR bonds

Pubilc sector lender, IDBI Bank on Friday announced the repayment of its 11.50 per cent IDBI SLR Bonds 2009, 55th series, on Jauary 9, 2010.

No interest will, therefore, accrue on the bonds after January 8, 2010 and no request for transfer will be allowed after December 9, 2009, the bank said in a press release here.

Investors holding the bonds in the form of promissory notes may tender these at the concerned branch of IDBI Bank by December 9, 2009, to facilitate the repayment in time, the release said.

Investors, having investments in the form of entry-in-account with IDBI Bank, should furnish a receipt in the prescribed form.

For those who held the bonds in demat form, the bonds will automatically be debited and the redemption proceeds will be sent to the investors, the release said.